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2018-08-15 15:17:01

Overstock's Stock Prices Crash, Recent Gains From Its Blockchain Plans Now All Gone

Overstock's 20% surge in its stock prices was short-lived, as its market value has come crashing down again. The online retailer has lost 21% of its market value, and its overall market cap is down nearly 50% this year. This, despite Overstock securing a $270 million blockchain-related investment from Hong Kong-based GSR Capital on August 9th. Overstock's stock prices plummeted after investors realized the company recorded a $64.8 million net loss in Q2 2018.